I found this discussion from Dr. Jeff Masters blog at Weather Underground to be very helpful in understanding the potential risk to the East Coast. He discusses the models and steering factors in clear layman's terms, and also gives a pretty clear idea of what potential "impact" might be for some of the areas in the 5-day cone:
Jeff Masters writes:
The latest set of computer models runs from 2am EDT (6Z) this morning push Earl's projected track a little closer to the U.S. East Coast, and we now have two of our six reliable models predicting a U.S. landfall. The latest NOGAPS run shows Earl hitting the Outer Banks of North Carolina late Thursday night, then striking Southeast Massachusetts late Friday night, and Eastern Maine on Saturday morning. The HWRF model predicts a strike on Eastern Maine Saturday morning, but keeps Earl offshore from North Carolina and Massachusetts. None of the other computer models show Earl hitting the U.S., but several models bring Earl within 100 - 200 miles of North Carolina's Outer Banks and Southeast Massachusetts. It is likely that Earl will being a 12-hour period of heavy rain and tropical storm force winds of 39+ mph to North Carolina's Outer Banks, beginning on Thursday evening. NHC is giving Cape Hatteras a 12% chance of receiving hurricane force winds. By Friday evening, western Long Island, Rhode Island, and Southeast Massachusetts can expect a 6 - 8 hour period of heavy rain and tropical storm force winds of 39+ mph. NHC is giving Nantucket a 11% chance of receiving hurricane force winds. These odds are 4% for Boston, 6% for Providence, 5% for Eastport, Maine, and 11% for Yarmouth, Nova Scotia. The main determinant of whether Earl hits the U.S. or not is a strong trough of low pressure predicted to move off the U.S. East Coast Friday. This trough, if it develops as predicted, should be strong enough to recurve Earl out to sea. Keep in mind that the average error in position for a 3-day NHC forecast is 185 miles, which is about how far offshore Earl is predicted to be from Cape Hatteras three days from now. The average error in a 4-day forecast is 255 miles, which is about the distance Earl is expected to be from the coast of New England four days from now.
Regardless of Earl's exact track, the U.S. East Coast can expect a long period of high waves beginning on Thursday. Significant beach erosion and dangerous rip currents will be the rule, due to waves that will reach 10 - 15 feet in offshore waters. Waves from Hurricane Danielle killed two swimmers in the U.S. over the weekend and forced hundreds of water rescues along the U.S. East Coast. Earl's waves will be worse, and will likely cause millions of dollars in beach erosion damage.
from here:
http://www.wunderground.com/blog/JeffMa ... rynum=1595